Interest rates look primed to continue moving higher last week. Most market watchers expected a really strong March employment report, which would have likely pushed interest rates much higher on Friday.

The employment report numbers were actually pretty decent. There were 192k non payroll jobs created, slightly below the 200k expectation. February’s job creation was also adjusted higher. Overall, the numbers weren’t much lower than predicted, but the Mortgage Backed Security market benefited greatly from job creation not reaching their estimates.

The MBS market closed + 43 basis points on Friday alone, and then followed up on Monday closing up + 32 basis points. The stock market also had 2 very bad days with investors moving money from stocks to bonds.

Now is a great time to lock in and take advantage of the recent improvement.